Evofem Biosciences (NASDAQ:EVFM) Downgraded to “Hold” at ValuEngine

ValuEngine cut shares of Evofem Biosciences (NASDAQ:EVFM) from a buy rating to a hold rating in a research report released on Thursday, ValuEngine reports.

EVFM has been the subject of a number of other reports. Cantor Fitzgerald set a $9.00 target price on shares of Evofem Biosciences and gave the stock a buy rating in a report on Friday, April 12th. Zacks Investment Research downgraded shares of Evofem Biosciences from a buy rating to a hold rating in a report on Tuesday. Oppenheimer boosted their target price on shares of Evofem Biosciences from $9.00 to $11.00 and gave the stock an outperform rating in a report on Friday, April 12th. Finally, HC Wainwright set a $9.00 target price on shares of Evofem Biosciences and gave the stock a buy rating in a report on Tuesday, May 28th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Evofem Biosciences currently has an average rating of Buy and a consensus target price of $8.63.

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Shares of EVFM stock traded up $0.05 on Thursday, hitting $5.46. The stock had a trading volume of 32,569 shares, compared to its average volume of 52,323. The business has a 50 day moving average price of $5.49. The company has a market capitalization of $225.53 million, a P/E ratio of -0.95 and a beta of 0.64. Evofem Biosciences has a one year low of $1.83 and a one year high of $7.24.

Evofem Biosciences (NASDAQ:EVFM) last released its quarterly earnings data on Tuesday, May 7th. The biotechnology company reported ($0.50) earnings per share for the quarter, missing the consensus estimate of ($0.45) by ($0.05). Sell-side analysts predict that Evofem Biosciences will post -1.47 EPS for the current year.

In other news, major shareholder Pdl Biopharma, Inc. bought 6,666,667 shares of Evofem Biosciences stock in a transaction on Monday, June 10th. The stock was acquired at an average cost of $4.50 per share, for a total transaction of $30,000,001.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 13.40% of the company’s stock.

An institutional investor recently bought a new position in Evofem Biosciences stock. Strs Ohio bought a new position in Evofem Biosciences Inc (NASDAQ:EVFM) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 3,800 shares of the biotechnology company’s stock, valued at approximately $25,000. 49.72% of the stock is currently owned by institutional investors.

Evofem Biosciences Company Profile

Evofem Biosciences, Inc, a clinical-stage biopharmaceutical company, develops and commercializes women's sexual and reproductive health products. Its lead product candidate is Amphora, a non-hormonal woman-controlled vaginal gel, which is in Phase 3 clinical trial for the prevention of pregnancy; and in Phase 2b trial for the prevention of chlamydia and gonorrhea in women.